Arbitration Eligible Three years of major league service are required for a player to be eligible or be in the top 17% (based on service time) of players with two years of eligibility. Players in that class are known as a "super two" player. To qualify as a "super two", the player must have had a minimum of 86 days of service with the big league club during the 2008 season.
Rule 5 Players Any player that is not on the 40 man roster as of November 20th is eligible for the Rule 5 Draft, if...
1.) They were 18 or younger when they first signed a pro contract and this is the fourth Rule 5 draft since they signed.
2.) They were 19 or older when they first signed a pro contract and this is the third Rule 5 draft since they signed.
The preceding list is not an all inclusive list. It simply lists some of the players who would be best known by fans that are eligible for the Rule 5 Draft.
Minor League Free Agency A minor league player is eligible for free agency if he has played all or part of seven seasons in the major or minor leagues and is not on a 40 man roster by October 15.
Again, this is not an all inclusive list, but a list of some of the more prominent minor league free agents.
Please note that a player's status can change between now and the deadline for their particular situation. For instance, it's likely that the Phillies will add Jason Donald to the 40 man roster, ending his eligibility for the Rule 5 Draft.